BRAINTREE, Mass., May 27 /PRNewswire/ -- Bradlees, Inc. (NYSE: BLE) announced today at it annual stockholders meeting, plans for four new stores. Two of the stores will be additions to the metropolitan New York market to go along with the company's new Yonkers store. One will be Bradlees first in New York City -- a two level 130,000-square-foot store in the Atlantic Center Development in Brooklyn. The other will be Bradlees first on Long Island -- a 100,000-square-foot store in Westbury.
The two other stores announced today will add to Bradlees already strong presence in Northern New Jersey -- one in West Orange and the other in Bergen County.
"We have previously announced our intention to open four to six new stores per year starting in 1994. Today's announcement is the first installment on that program and represents an exciting opportunity for Bradlees to enter New York City and Long Island, and to expand our base in New Jersey," said Barry A. Berman, chairman and chief executive officer of Bradlees, Inc.
Commenting on the first quarter, Berman said, "Although the numbers are not yet final and we will not be releasing results until late June, total sales are higher than last year, comparable store sales are flat and gross margin percentage is down. Our results were negatively impacted by the severe weather conditions in February and March. However, the weather and business improved in April and was quite good in the first half of May. For the four weeks ending May 30th, at this point we expect to show 7 percent to 9 percent comparable store sales increases."
Bradlees, Inc. operates 126 discount department stores in Maine, New Hampshire, Massachusetts, Connecticut, New York, New Jersey , Pennsylvania and Virginia. Bradlees' common stock is listed and traded on the New York Stock Exchange under the symbol "BLE."
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/CONTACT: Coleman Nee of Bradlees, 617-380-8370/
(BLE)

CO: Bradlees, Inc. ST: Massachusetts IN: REA SU:

DD -- NE004 -- 2842 05/27/93 10:05 EDT

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